§ 54B-241. Examination and certification of amendments. - North Carolina Statutes

§54B‑241.  Examination and certification of amendments.

(a)        Upon receipt fromthe Secretary of State of a copy of proposed amendments to the articles ofincorporation of a mutual deposit guaranty association, the Secretary ofCommerce shall at once examine the proposed amendments to determine theireffect on the operation of the guaranty association.

(b)        In the event theproposed amendments are correct in form and substance and the examination showsthat if adopted they would not change the character or principal business ofthe guaranty association, the Secretary of Commerce shall so certify to theSecretary of State.

(c)        The Secretary ofCommerce may refuse to make certification if upon examination he has reason tobelieve that the proposed amendments would change the character of the businessof the guaranty association or that the best interests of the public will notbe promoted by their adoption. (1981, c. 282, s. 3; 1983, c.719, s. 2; 1989, c. 751, s. 8(5); 1991 (Reg. Sess., 1992), c. 959, s. 11.)